The start of the MLB season is seeing live legal sports betting become more popular than ever.
Since the start of the 2023 season, live pitch-by-pitch MLB betting has surpassed pre-match wagers compared to last year on Tipico Sportsbook. The German gambling operator, which entered the U.S. market in 2020, is reaping the benefits of a surge of interest in micro-betting.
“Our live share of betting over the past year has grown from 34% to 40% and we’re certain by the end of the season that will be close to the 50% mark, especially with upcoming products and features that will aid live betting,” Tipico VP of Sportsbook Andre Zammit told Covers. “It’s extremely exciting considering you have 10-15 games every single day in baseball.”
The growth of live MLB betting for Tipico has led to strong returns for the sportsbook, which is live with online betting sites in Colorado, Iowa, New Jersey, and Ohio. In May 2023, Tipico’s live betting handle reached $5.8 million — a 12% increase compared to 2022. Tipico’s total handle during May was $10.8 million across the sportsbook’s platform with 54% being live wagers.
Tipico will continue to expand its reach and viability as a live betting platform with a slew of MLB markets including strikeouts, first five innings, and runs. However, Tipico expects the trend of live betting to not only impact MLB but other major professional sports leagues in America.
“Live betting is growing across,” continued Zammit. “We’ve seen this in NFL, NBA, and NHL. Even in the less U.S-centric sports like soccer and tennis. But it’s incredible the growth we’ve seen in baseball.”
Part of a trend
Tipico’s uptick in live betting is evidence of an emerging and promising market. Last month, micro-betting technology company Simplebet secured a partnership with ClutchBet. As part of the deal, Simplebet will provide ClutchBet with micro-betting markets for the NFL, NBA, and MLB. Simplebet and ClutchBet will also offer live betting for college football and basketball.
In June, Simplebet reported that its NBA micro-betting markets surged 350% year-over-year.
ClutchBet is a subsidiary of BlueBet — an Australian bookmaker and online gambling operator. The sportsbook has market access in Colorado and Iowa with plans to expand its presence.
